The Solana community is actively working on a new voting approach to tackle inflation-related issues in the network. Galaxy Research has introduced a proposal called 'Multiple Election Stake-Weight Aggregation (MESA)', which offers a more nuanced voting system compared to the traditional binary format.
How MESA Enhances Voting Mechanisms
Under MESA, validators will have the ability to cast weighted votes across various inflation rate options, rather than simply choosing 'yes' or 'no.' This allows community members to express their preferences more clearly, helping determine an average decision based on weighted voting outcomes.
How MESA Addresses Community Concerns
Galaxy Research believes that the rejection of the previous SIMD-228 proposal highlighted the inadequacies of the past voting structure in representing community desires. The previous proposal's focus on a deflationary model failed to resonate due to divided opinions, even with significant participation. MESA retains the current annual inflation reduction rate of 15% in each epoch, with Solana’s inflation currently at 4.6% and 64.7% of its total supply staked.
Alternative Voting Approaches
Concerns have been raised regarding MESA’s complexity, particularly by Max Resnick, Chief Economist at Anza, who fears it may confuse voters. He argues for a simpler alternative, emphasizing the danger of extreme voting behavior in traditional systems that often polarize the community. Anatoly Yakovenko, a co-founder of Solana Labs, proposed a stake-weighted median as a potentially clearer alternative, which could yield more representative results with less risk of skewing.
As the discussion continues, the Solana community's ability to adapt and refine its voting strategies will be crucial for maintaining a harmonious ecosystem and effectively addressing the pressing issue of inflation.
